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Myriad Genetics Posts Revenue Growth, Slightly Widened Loss in Q2

NEW YORK, Feb. 5 - Myriad Genetics on Tuesday said that strong sales of its predictive medicine technologies helped spur an increase in total revenues for its second fiscal quarter.


The company said that revenues for the period ended Dec. 31 were $13.5 million, compared with $12 million one year ago. Income from sales of Myriad's predictive medicine technologies--including its BRACAnalysis and COLARIS products--increased to $6.4 million in the current quarter compared with $4 million in the year-ago period.


Revenue from research dipped by roughly $880,000 to $7.1 million, the company said.


Second-quarter earnings crept up to $3.6 million, or $.15 a share, from $3.3 million, or $.15 a share year over year.


Myriad, of Salt Lake City, had approximately $134 million in the bank as of Dec. 31, it said.


On the drug-development front, Myriad in December begun enrolling patients for a trial of its drug for refractory prostate cancer. The study should last about three years, the company said.